The African Markets, Technology and Venture Capital
From the monthly archives:
Stanchart has formally disclosed that they will be disposing off their head office in town along moi avenue. i.e. StanBank house. Which is now housing Mr Price on the ground floor.
This is a material transaction as when the deal is closed could be worth a few hundred million shillings.
Here is the release.
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Safaricom share price on a steady rise in the past few days.
Bloomberg reports that Morgan Stanley has revised its price estimate and raised it to 6.40 shillings from 4.80 shillings.
Their overweight position on Safaricom is bouyed by improved earnings, more penetration of M-Pesa and new broadband revenue streams.
Morgan Stanley estimates 22 percent group revenue growth in 2010 and a further 16 percent in 2011 compared with 12 percent and 10 percent previously. It also sees “room for positive surprise” on dividends.
In the past few days active trading on Safaricom’s shares has persisted and the price has steadily improved. Foreign demand on the counter continued to build accounting for over 99% of total value traded yesterday.
More on the Standard and Business Daily.
Previous periods performance of Safaricom here.
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Here is an older post with more details and below is the NIC IPO Prospectus.
NIC is currently owned 60% by IGI through Corporate Holdings Limited (CHL), and 40% by the GoU. After the Offer for sale, the shareholding is expected to be 60% held by IGI and 40% held by the general public and institutional investors, both local and foreign.
The Offer for Sale of 40% or about 161,552,000 ordinary shares of NIC of UGX 5 each at UGX 45 per share.
Opening of the Offer 12:00 Noon 31 December 2009 and closes at 05:00pm on 05 February 2010
Announcement of Basis of Allotment Criteria will be on 09 March 2010
Dispatch of Share Certificates and refund cheques to the Authorized Selling Agents is on 18 March 2010
Commencement of trading of NIC shares on the USE 25 March 2010
The offer gives NIC a Market Capitalisation of UGX 7,269,840,000 at the offer price.
More details in the NIC IPO Prospectus.
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